Dollar General Corp. reported better-than-expected earnings and sales and issued an upbeat outlook as inflation-pressured consumers shopped its stores for low-priced basics.
The discounter also reiterated its plans to undertake approximately 2,385 real estate projects in fiscal year 2024, including approximately 800 new store openings, 1,500 remodels and 85 store relocations. In fiscal 2024, the retailer opened 987 stores, remodelled 2,007 stores and relocated 129.
“We were pleased to deliver fourth quarter top and bottom-line results at the upper end of our internal expectations,” said Todd Vasos, CEO. “With customer traffic growth and market share gains during the quarter, we believe our actions are resonating with customers as they turn to Dollar General for our unique combination of value and convenience.”
Vasos returned as CEO of Dollar General in October 2023. Under his leadership, the company has focused on basics, including expanding its fresh produce selection and private-label brand.
